Bitcoin Sees Best Monthly Performance in Over a Year Amid Tether Stablecoin Growth

Bitcoin's recent surge has put it on course for its best monthly performance since February last year. According to CoinGlass data, Bitcoin (BTC) has increased by 13.6% in April, which is a significant turnaround from previous months. The growth of Tether's USDT stablecoin has been identified as a key driver behind the rebound.

The supply of USDT has surged to just under $150 billion, adding around $5 billion over the past two weeks. This increase in liquidity has contributed to the recovery of the cryptocurrency market. Analysts believe that the growth of stablecoins is a sign of healthy capital flows into the crypto market, which can positively impact asset prices.